How does compensation change by foregoing partnership at a firm and going in house? I’m a 2nd year trying to understand long-term earning potential

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Most in-house roles make less than first years at Cravath scale. A “good” in-house role is like $200k base/$300k all in. Handful of great in-house roles out there at $300k+ base and maybe $400k+ all in - none of these are true 9-5 and you probably need to be quite senior (6+ YOE) with specialized experience (e.g., I’m seeing fund formation a lot) to get. If you have the right experience, some unicorn options at like a FAANG where you get pretty good comp with equity since stocks from those cos appreciate. V few roles that pay in millions (think GC of a major public co) and they tend to hire folks who have already been partner at a law firm and just want a change. Again, not 9-5. Higher paying roles tend to be like FAANG, hedge funds/private equity, pharmaceutical - and they all pay more for higher expectations in terms of hours, late night/weekend availability and specialized skills from what I can tell.

Equity partners in biglaw may start at like half of PPEP so maybe $1.5mil at a $3mil+ PPEP firm. Anecdotal.

I would try and look at your clients and see if they have in-house attorneys, how much you interact with them as outside counsel, whether you are being set up to get a job like theirs in several years, what their WLB is like, whether you would like their job, etc. If you build some rapport they’d probably be happy to chat with you about their experience and maybe even comp if you ask (would recommend doing this between active deals so they don’t feel like “why isn’t OP working on my matter right now”).

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I’d just add that there are some in-house roles that are closer to 9-5 (or better). And while C2 caveats that high-paying in-house roles have longer hours, they generally all are much less demanding than big law.

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They change pretty much every way imaginable. Short answer is don’t go in house as a second year.

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I am a lot older than 25

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Barker Gilmore and Robert Half have salary guides you can see publicly.

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